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This article is about an economic boom from 1959 to 1974. For more recent economic developments, see Economy of Spain.
The 142 m Torre de Madrid, built in 1957, heralded the "Spanish Miracle".
The Spanish miracle (Spanish: el milagro español) refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime, 1959 to 1974,[1] in which GDP averaged a 6.5 percent growth rate per year,[2] and was itself part of a much longer period of an above average GDP growth rate from 1951 to 2007.[3] The economic boom came to an end with the 1970s international oil and stagflation crises that disrupted the industrialised world although several scholars have argued that "liabilities accumulated during years of frenzied pursuit of economic development" were in fact to blame for the slow economic growth of the late 1970s.[4]
^Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
^Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
^Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
^De la Torre, Joseba; García-Zúñiga, Mario (2014). "Was it a Spanish Miracle? Development Plans and Regional Industrialization, 1950–1975". In Grabas, Christian; Nützenadel, Alexander (eds.). Industrial Policy in Europe after 1945: Wealth, Power and Economic Development in the Cold War. Palgrave Macmillan. pp. 162–183. doi:10.1057/9781137329905. ISBN 978-1-137-32990-5.
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